Understanding and Enhancing the Role of Business in International Development

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Abstract

Political, private sector and development leaders broadly agree that business has
a critical role to play in driving innovation, promoting inclusive and sustainable
economic growth and improving human wellbeing. Foreign Direct Investment
(FDI) flows to developing economies now account for over half of all FDI flows
worldwide and developing countries’ national investment policies are increasingly
driven by their development strategies. This is reflected in an upsurge in the
promotion of business activities specifically targeted at achieving development
objectives. However, more needs to be done to ensure that these activities are
strategic and that donor, business, government and NGO efforts are informed
by a more detailed understanding of where and how business can make the most
effective contributions.